International Assets Investment Management LLC Lowers Stock Holdings in Enbridge Inc. (NYSE:ENB)

International Assets Investment Management LLC cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 89.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,020 shares of the pipeline company’s stock after selling 793,383 shares during the quarter. International Assets Investment Management LLC’s holdings in Enbridge were worth $4,159,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ENB. Private Advisor Group LLC boosted its position in Enbridge by 2.1% during the second quarter. Private Advisor Group LLC now owns 103,598 shares of the pipeline company’s stock valued at $3,687,000 after buying an additional 2,145 shares during the period. Candriam S.C.A. increased its stake in Enbridge by 45.0% in the 2nd quarter. Candriam S.C.A. now owns 11,500 shares of the pipeline company’s stock worth $409,000 after purchasing an additional 3,570 shares during the period. Savant Capital LLC lifted its position in Enbridge by 17.8% in the second quarter. Savant Capital LLC now owns 21,320 shares of the pipeline company’s stock valued at $759,000 after purchasing an additional 3,218 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of Enbridge by 2,564.6% during the second quarter. Strategic Financial Concepts LLC now owns 266,136 shares of the pipeline company’s stock valued at $95,000 after purchasing an additional 256,148 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of Enbridge by 622.1% in the second quarter. Acadian Asset Management LLC now owns 228,770 shares of the pipeline company’s stock worth $8,139,000 after purchasing an additional 197,089 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on ENB. Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 target price (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.00.

Enbridge Stock Performance

Shares of Enbridge stock traded up $0.08 during trading hours on Wednesday, reaching $43.72. 379,930 shares of the stock traded hands, compared to its average volume of 2,284,511. The company has a 50 day moving average price of $42.30 and a 200 day moving average price of $40.12. Enbridge Inc. has a one year low of $32.85 and a one year high of $44.13. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $95.23 billion, a price-to-earnings ratio of 20.24, a P/E/G ratio of 4.14 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the prior year, the company earned $0.46 earnings per share. On average, equities research analysts expect that Enbridge Inc. will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.13%. Enbridge’s dividend payout ratio (DPR) is presently 124.07%.

Enbridge Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.